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Royal LePage
Royal LePage
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$1,399,900

3 Beds

3 Baths

2120 FEETSQ

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Kelowna BC, V1Y 5M2

MLS® # 10362465

Property Information:

Potential to BUILD A 6 STORY BUILDING WITH UP TO 36 UNITS ON THIS ONE LOT! Rare opportunity to acquire a prime development property in the heart of South Kelowna. Currently featuring a well-maintained rental house, this expansive property offers immediate rental income while you plan your development. With MF4 zoning that allows for a 6-story building and located in a parking exempt zone, the potential for high returns on investment is immense. Close Proximity to shops, restaurants, services and steps away from the Kelowna General Hospital. Additionally, located within close proximity to Okanagan Lake. Key Features: • Zoning: MF4 zoning ideal for 6 story residential development with minimal parking restrictions • Current Structure: Charming, income-generating house currently leased to reliable tenants for $3,650.00 per month. Casita in backyard which creates the potential for additional square footage and rental income • Location: Situated in a highly desirable area with robust market demand, ensuring strong appreciation potential. • Accessibility: Excellent transport links and proximity to major roads, public transport, shopping centres, schools, and recreational facilities. • Future Development: Perfect canvas for developers looking to build residential apartments, Potential FAR of max 2.8. For Developers looking for a larger project, the adjacent property at 607 Glenwood is also for sale.

Property Features:

  • Bedrooms: 3
  • Bathrooms: 2+1
  • Annual Tax Amount: $4,712
  • Architectural Style: Bi-Level
  • Built in: 1964
  • Construction Materials: Vinyl Siding, Wood Frame
  • Cooling: Heat Pump
  • Exterior Features: Sprinkler/Irrigation
  • Floor Space (approx): 2120 Square Feet
  • Flooring: Carpet, Hardwood
  • Heating: Heat Pump, Natural Gas
  • Lot Size: 0.18 Acres
  • Parking Features: Additional Parking
  • Roof: Asphalt, Shingle
  • Water Source: Public
  • Sewer: Public Sewer
  • No. of Parking Spaces: 3

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Location of 633 Glenwood Avenue, Kelowna, BC, V1Y 5M2

Demographic Information of 633 Glenwood Avenue, Kelowna, BC, V1Y 5M2

Life Stage

Young Couples

Employment Type

Service Sector/White Collar

Average Household Income

$119,357.51

Average Number of Children

1.46

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

7.52 %

High school certificate or equivalent

30.37 %

Apprenticeship trade certificate/diploma

4.91 %

College/non-university certificate

22.86 %

University certificate (below bachelor)

0.61 %

University Degree

33.73 %

Commuter

Travel To Work

By Car

68.28 %

By Public Transit

5.54 %

By Walking

19.32 %

By Bicycle

4.25 %

By Other Methods

2.61 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

29.25 %

Houses

70.75 %

Own Vs. Rent

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